XRP signals bullish breakout above the $0.4200 level against the US dollar and its price could soon start a decent increase above the $0.4650 and the $0.4800 resistance levels so let’s read more in our latest ripple news today.
Ripple is holding the $0.4200 support level and shows even more positive signs above the US dollar with its price settling above the $0.4500 and the 100 hourly simple moving average. There was a new break above the key declining channel with the resistance close to the $0.4500 on the 4-hour chart of the pair. The XRP/USD pair could start a strong increase if it manages to clear the $0.4800 and the $0.5000 resistance levels.
Over the past few days, there was a slow decline in the price of XRP from the $0.4920 resistance, and the price traded below the $0.4800 support level with the 100 simple moving average as well. There was a break below the $0.4500 support however, the bulls were active near the $0.4200 level and formed a new low at $0.4229. Now, the price is trying to climb higher and broke the $0.4380 and the $0.4400 resistance levels.
There was a break above the key declining channel with the resistance of the $0.4500 on the 4-hour chart of the pair and another sharp spike above the $0.500 level before the price dropped to a $0.4800 low. Another low was formed and the pair is trading above the 23.6% fib retracement level from the move at $0.5315 high to $0.4479 low. The price is now above the $0.4500 level and the 100 simple moving average with the immediate resistance nearing the $0.4880 level and it is close to the 50% fib retracement level from the move at $0.5315 high to the $0.4479 low.
The next key resistance is close to the $0.4200 and the main resistance is close to the $0.4980 and the $0.5000 levels. Another close above these levels could pump the prices to $0.5500 level. If XRP fails to clear these resistances, it could start a fresh decline with the initial support on the downside nearing the $0.4540 level. XRP signals a bullish breakout with the first major support nearing at $0.4500 level and the 100 simple moving average. The 4-hour MACD for the pair is gaining pace in the bullish zone while the 4-hour RSI is above the 50 level.
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